1) Why buy a Villa or a Residential plot at SRR EXURBIA, Bangalore?
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Why because our property combines natural beauty and amenities meeting world class standards and many other factors. The rapid growth and expansion of IT, BT and Industrial segment near Electronic City Phase-I and Phase-II on Hosur Road has seen substantial demand for residential accommodation. After the re-alienation of Land use in 2007 by BMRDA the demand has raised high due to declaration of more Green Zone with limited Residential zone. The proposed peripheral ring road is aligned very close to the layout thus give faster commuting to any corner of the city without any traffic congestion.
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2) Is buying a home at SRR Exurbia a good investment? |
| The Bangalore property market is one of the world's real estate hot spots. Buying property in Bangalore – The Green City, with its great climate, location and affordable property prices, is attracting thousands of investors every month. The area has already experienced accelerated growth with property values rising as much as 50 to 75% in the last 12 months and prices doubling every two years. The Project being in close proximity to Electronic city, has large demand and thus give faster escalation of land prices in short span. Land values in Bangalore area increase 30%-40% per year on an average. No one can predict exactly what the property market is likely to do, but the market is still rising so anything you buy now is likely to double in value in three years.
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3) Why is SRR Group involved in this project? |
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We realize the acute need for building satellite communities around Bangalore Urban limits. These communities will appeal to executives, self-employed workers, retiree's, and NRI’s. The location of the community is intended to alter the local village structure as it has existed for generations.
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4) Is the title of the property clear? |
| Absolutely. The land is freehold, marketable and free from all encumbrances.
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5)
Will there be any future legal complications from the previous owners?
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| No. All the legalities have been thoroughly checked and the titles of the land are crystal-clear.. |
6)
On the FAQ, it states that SRR EXURBIA has clear title for the land/development free of all encumbrances. Can you provide copies of a clear title? What if there is title dispute later? Is there such a thing as title insurance and who pays for that? Would the builder indemnify investors if there is a title dispute prior to completion of construction?
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| Yes, copies of deeds and titles can be provided on request. Our Senior Legal Advisors have thoroughly scrutinized and cleared the title. In the event of a dispute that can't be resolved, any monies paid by you will be refunded.
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7)
Which authority has approved the Project?
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| The property has been converted from Agricultural use to residential purposes and BMRDA has approved the Project through Anekal Planning Authority. The approval number is LAO/72/2007-08 and can be checked in BMRDA website also for authenticity. |
8) Which Banks has approved your Project? |
| Currently IDBI ahs approved the project and loans has also been disbursed for our customers and Axis Bank ICIC Bank are in the process of releasing approval
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9) Does your Bank sanction loans for NRI’s?
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| Yes, IDBI will sanction loan for NRI’s also.We will put across out Banking executive to explain the documentation process upon receiving the confirmed booking from customer
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10) Is there any plan for adding more sites in addition to this layout?
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| Yes, we have Phase-II coming up soon.
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11) Has the land been acquired for the next phase?
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| We have already acquired the land and awaiting the departmental approvals for opening sales.
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12) Will prices change? |
| Prices are likely be escalated in next two months as we are offering special discounts to our customers as Pre-Launch offer. |
13) I'm an NRI from the United States. How secure will my Villa or Plot be while I'm away?
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| Very secure. Our security staff will be aware of your absence and our maintenance staff will assure your peace of mind by maintaining your Property in the same condition - if not better - than if you were there yourself.
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14) .Do I get taxed by the U.S. government on bringing back profits after paying capital gains in India? |
| Yes, capital gains are taxed by the U.S. government. Approximately 15% on the capital gains, less whatever tax paid in India. (it means one can offset tax paid in India against tax payable in the U.S.)
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15) What are the ramifications of repatriation when a foreigner buys property in India? (Not of Indian Origin)
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| One has to obtain permission from Reserve Bank of India for repatriation of sale proceeds and there is no general permission for repatriation. Reserve Bank of India may give permission to repatriate only the amount invested or sale proceedings less taxes on case to case basis. |
16) Based on RBI rules, do you have to hold the property for at least 3 years from taking assignment/possession or 3 years from original investment?
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| It is usually from the time of the investment, but we are seeking a clarification from our Indian accountants and lawyers.
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17) Can we have multiple holders listed on the title (i.e. my brother and I) since this would be a joint property investment?
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| Yes, you can have multiple holders. Even if it is purchased by cash, you can register the property in both names by following normal procedures. |
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